The firm has committed itself to providing the next generation of professional services across its network of 73,854 people, who operate in 162 countries and territories.
“There is a client-driven need for us to innovate,” BDO’s Sydney Managing Partner Grant Saxon says.
“Our traditional compliance work such as book keeping, tax and reconciliation activity is now often undertaken by the clients themselves, or has been replaced by technology.
“Clients are thinking differently about how they use their accountant and now rely on a different set of skills. They look to us to analyse and interpret data across their business, identify insights and advise them based on what we find.”
Grant says BDO has developed a data and insights platform that reflects the modern requirements of its clients.
Known as BDODrive, the service combines data, insights and intelligence to support the management of client businesses. To service growing demand, BDO appointed seven new Australian partners in 2017 with an advisory background, which Grant says complements a highly entrepreneurial mindset among the existing partners.
For him, responsiveness and an entrepreneurial mindset, rather than scale, provides BDO with a competitive advantage.
“The fact that we aren’t the biggest in Australia works to our advantage. We don’t operate as a vast hierarchy, rather, our partners are more hands-on and closer to their clients, which means we can turn things around quickly compared to our larger competitors,” he says.